The story
From arrow (“projectile that is shot from a bow”) + -verse, after Arrow (TV series), from Green Arrow (a fictional archer and superhero, the protagonist of the TV series).
Etymology from Wiktionary, CC BY-SA 4.0.
Arrowverse
Today it means: The fictional shared universe that serves as the setting of various live action series based on DC Comics superheroes: Arrow (2012), The Flash (2014), Legends of Tomorrow (2016), etc. Full definition →